AVBP vs TCRX: Correlation
Measured on weekly returns over the past three years, ArriVent BioPharma, Inc. (AVBP) and TScan Therapeutics, Inc. (TCRX) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVBP and TCRX?
On 3 years of weekly data the AVBP/TCRX correlation comes out at 0.46, moderate. Recent behaviour matches the longer record: 0.37 over 1 year against 0.46 over 3. The 5-year figure is n/a, and annualized covariance runs at 1924.3 %².
Within AVBP's tracked universe of 17 assets, TCRX comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AVBP outperformed by 121.3 percentage points (+61.4% for AVBP against -59.9% for TCRX). Note the risk asymmetry: TCRX runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AVBP vs TCRX: side by side
| AVBP (ArriVent BioPharma, Inc.) | TCRX (TScan Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +61.4% | -59.9% |
| 5-year return | n/a | -91.3% |
| Volatility (ann.) | 52.7% | 82.6% |
| Beta vs S&P 500 | 1.06 | 2.01 |
| Max drawdown (3Y) | -54.3% | -92.4% |
| Market cap | $1.5B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVBP | TCRX |
|---|---|---|
| 2022 | – | -65.6% |
| 2023 | – | +276.1% |
| 2024 | – | -47.9% |
| 2025 | -24.5% | -67.1% |
| 2026 | +54.1% | -25.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVBP and TCRX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AVBP and TCRX?
As of 2026-08-27, the correlation of weekly returns between AVBP and TCRX is 0.46 over 3 years, 0.37 over 1 year and n/a over 5 years.
Is TCRX a good diversifier for AVBP?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/avbp-vs-tcrx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/avbp-vs-tcrx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AVBP correlations · TCRX correlations
